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citi buys Wacovia whats next?

Frequent Contributor

citi buys Wacovia whats next?

soon to be three banks left standing... 
BOA
CITI
CHASE
GOAL FOR 2010 Paying Down Debt .........653 EQ 685TU EXP???
13 REPLIES
Frequent Contributor

Re: citi buys Wacovia whats next?

The only one of those three that I've screwed is CHASE!!!!Smiley Very Happy and they got their money back...
Sept 07 EQ 419

April 2012 EQ- 669 EXP- 680 TU-700= Proud New Homeowner!
Established Contributor

Re: citi buys Wacovia whats next?

Soon you won't be able to escape them. My only good cards and loans are with the big 3. Hope I get rich because if I have to expand my business I won't have anywhere to go.

Already capped by BOA on business cards because an old MBNA account.
Chase didn't blacklist me and gave me some new credit.
Citi I'm probably at my limit.

Wow...that sucks.

Message Edited by EddieX on 09-29-2008 09:44 AM
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Credit repair - the Ski Mask Way.
Regular Contributor

Re: citi buys Wacovia whats next?

These latest buyouts were forced by the crisis but I believe banking always going through mergers and buyouts even during the "good times". With over 9000 banks in the US there is no immediate danger of of the big 3 gobbling up all of them. They simply have no interest in most of them.

Maybe they wait for a bank to reach a certain size before they even consider a merger or takeover. I'm sure there are many factors other than size for example Wamu gave Chase a much coveted branch presence in places where they were non-existent.
FICO TU 730 EQ 731 EX 706
Valued Contributor

Re: citi buys Wacovia whats next?

You'll be able to escape them still. There are myriad credit unions waiting for you to sign up.
Established Contributor

Re: citi buys Wacovia whats next?

Wachovia and WAMU were FDIC seizures.
Sure there are local banks and all that but those only have a certain level of exposure or they make it harder for people to get through.
It will definitely have an effect on the business lending side.
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Credit repair - the Ski Mask Way.
Regular Contributor

Re: citi buys Wacovia whats next?



maxima1 wrote:
soon to be three banks left standing... 
BOA
CITI
CHASE




Next up should be National City
Moderator Emeritus

Re: citi buys Wacovia whats next?

WOW- and Nat City is down another 50% to $1.80 a share-
 
So expect the feds to move in on them soon too.
Established Contributor

Re: citi buys Wacovia whats next?

50%?
Ugh...
The Big 3 is going to ask me to tattoo their names on my forehead because soon they'll own me.
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Credit repair - the Ski Mask Way.
Valued Contributor

Re: citi buys Wacovia whats next?

I would add to this list other 2 banks:
Wells Fargo
USBank Corporation.


maxima1 wrote:
soon to be three banks left standing... 
BOA
CITI
CHASE



IN VINO VERITAS.